Brussels is preparing a radical overhaul of the EU’s next trillion-euro common budget, replacing dozens of programmes with merged funds that would hand more spending power to capitals. The plan, outlined in a paper seen by the Financial Times,

European Central Bank policymaker Pierre Wunsch said the euro zone faces the risk of "sleepwalking" into excessive interest rate cuts and must be prepared to stop soon, the Financial Times reported on Monday.

The European Central Bank will soon have to discuss taking a break, or ending altogether, its campaign of interest-rate reductions, Executive Board member Isabel Schnabel told the Financial Times.

French President Emmanuel Macron, in an interview with the Financial Times has described Donald Trump’s return to power as an “electroshock” for the EU and a moment “to accelerate and execute”, warning that otherwise the project is at risk of failure: “It has no choice.

The European Central Bank's top policymakers outlined the contours of a looming policy debate on Wednesday, taking opposing views on inflation risks and on how much the bank is still holding back the economy.

Henna Virkkunen, the European Commission’s executive vice-president in charge of digital policy, told the Financial Times the EU wanted to “help and support” companies when applying AI rules, as the bloc sought to boost competitiveness and not miss the boat on this technology.

Last October the EU imposed tariffs of up to 45 per cent on Chinese electric vehicles, but the move caused deep divisions in the bloc. Sánchez in September said the plan should be “reconsidered” and Spain eventually abstained in the key vote. Germany and Hungary voted against the tariffs.

The EU is considering redirecting €93bn in untapped pandemic recovery funds into its defence sector as part of efforts to increase investment and military spending after the Trump administration warned it could withdraw US security support from the continent.

Brussels is preparing a radical overhaul of the EU’s next trillion-euro common budget, replacing dozens of programmes with merged funds that would hand more spending power to capitals. The plan, outlined in a paper seen by the Financial Times ...

EU capitals have agreed a fresh sanctions package against Russia, as Brussels vows to step up pressure on Moscow and increase its support for Kyiv, widening a transatlantic divide with US President Donald Trump as he pushes for a rapid end to the war in Ukraine.

Under the deal, EU member states must slash food waste by 10 per cent in food manufacturing and processing, and by 30 per cent per capita in retail, restaurants, food services and households by the end of 2030, measured from a 2021-23 average baseline.

Marc Filippino Good morning from the Financial Times. Today is Friday, February 21st, and this is your FT News Briefing. EU debt markets could be in for a shake-up and Walmart is dusting the dirt off its shoulder. Plus, Donald Trump doesn’t want to be responsible for defending Europe, and that’s forced the EU to move quickly.